In the meantime, the news agency also reports that Morgan Stanley has been sued by an Alabama medical laboratory that claims it steered retirement plan business to ING U.S. and others in exchange for extra fees in an illegal 'pay-to-play' scheme.

Skin Pathology Associates Inc. filed suit in federal court in Manhattan on May 16, accusing Morgan Stanley of violating federal laws governing retirement plans through its dealings with co-defendant ING Life Insurance and Annuity Co and other 401(k) service providers.